20 December 2022
On 30 November 2022, the Ministry of Trade and Industry (“MTI”) launched the Green Economy Regulatory Initiative (“GERI”), a whole-of-Government effort to accelerate innovation in the green economy.
GERI is a one-stop platform that pulls together existing sandbox efforts by various regulatory agencies and facilitates the creation of new sandboxes in the green economy with a shorter timeline. With GERI, businesses can expect a quicker response and better support from relevant agencies and will be able to trial innovative and potentially impactful concepts at a faster pace.
Through GERI, the Government hopes to help more companies seize new green growth opportunities and develop sustainable products and services. Projects in the following key areas may be trialled on an expedited timeline through regulatory sandboxes:
- Carbon services and trading
- Circular economy (plastics recycling and e-waste recycling solutions)
- CO2 to aggregates
- Electric vehicles
- Energy (solar, energy storage systems and smart grid solutions)
- Sustainable aviation and maritime
- Sustainable tourism
The following materials are available on the MTI website www.mti.gov.sg: